Month: May 2012


One size does not fit all

By Hayes Knight – 31 May 2012 New Zealand’s financial reporting framework is about to undergo a radical makeover. The changes are significant for some organisations. It is therefore important your organisation is fully aware of what is changing and the implications. Hopefully you are all remaining abreast of progress regarding the fundamental changes in […]

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Zero budget scores 8 out of 10

Our Score for the 2012 Budget: 8/10. No surprises, (as all the good stuff was leaked prior to the budget) and it delivers a combination of growth initiatives and austerity. What were some of the highlights and what, in our opinion, was missing? Although tax cuts are the highlight for most (and in our opinion […]

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Mandatory Audit and Assurance for Charities

By Hayes Knight – 21 May 2012 Mandatory audit and other assurance of charity financial statements is being proposed as part of the legislative shake-up that is impacting Not-for-Profit (NFP) entities in New Zealand. So what’s happening and why? As featured in the Chartered Accountants Journal. After many years of relative stability there are now […]

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Audit and Assurance: Changes are coming

By Hayes Knight – 7 May 2012 New mandatory requirements are being proposed for audit and other assurance of charity financial statements as part of the legislative shake-up that is impacting Not-for-Profit (NFP) entities in New Zealand. What is happening and why? As we have flagged in earlier articles; after a period of many years […]

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Increased focus on segregation of duties

Many schools will have noticed that there has been an increased focus on segregation of duties in our audit findings letter this year. This is because we consider that this point is common across many schools. In fact due to the small average size of many New Zealand organisations, segregation of duties is an issue […]

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